AmRest Holdings SE 2012 Presentation for Investors March 19th 2013 - PowerPoint PPT Presentation

AmRest Holdings SE 2012 Presentation for Investors March 19th 2013

Teleconference Details • AmRest FY 2012 results are included in the FY 2012 Financial Report which is available to download from Investor Relations section at: http://www.amrest.eu • The recording of this Teleconference will be available at our website within 24 hours The AmRest participants: Henry McGovern Chairman of the Supervisory Board Mark Chandler Management Board Member, Chief Financial Officer Wojciech Mroczyński Management Board Member, Chief Strategy Officer Krzysztof Piechna Group Controller Maciej Mausch IR, M&A Manager 2

Executive Summary 2012 Strong financial results • 20/20+ Growth Agenda on track -> Sales & EBITDA up by 23% and 46%, respectively • Challenging economic environment now improving • SSS trends continue : Booming Russia, flat CEE and weakening Spain • Core margins impacted by significant one-off gains and value offer 3

Executive Summary 2012 Building international reach • 4 new test markets for La Tagliatella have opened • Unique Growth Opportunity in China – acquisition of Blue Horizon 4

Our Restaurants * * 5

New Restaurant Openings • 84 stores opened in 2012 (43 CEE, 15 REM, 26 TAG) – First openings in China, Germany and US – First equity store in France • 14 openings 2013 YTD (4 CEE, 1 REM, 9 TAG) – First opening in India – Additional openings in China, Germany, US • Solid pipeline for the rest of 2013 with ca. +100 stores to be opened; – 30 TAGs and 15 new stores in Russia 6

Continued growth in the number of restaurants # of Restaurants 1 Stubb’s 672 663 11 11 577 152 145 [+23%] 122 & [1] 360 334 348 349 301 310 247 239 223 191 202 166 37 35 35 127 27 21 54 12 53 39 4 24 13 8 79 77 77 70 71 70 69 64 2006 2007 2008 2009 2010 2011 2012 2013-03-19 • Countries of operation include Poland, the Czech Republic, Hungary, Russia, Serbia, Bulgaria, Spain, Croatia, France, Germany, China and USA • Data doesn’t include Applebee’s restaurants sold in 2012 to Apple American Group II, LLC 7 • [1] Including franchisee operated stores

Financial Highlights – FY 2012 20/20+ Growth Agenda on track – solid growth in both sales and EBITDA • Consolidated sales growth 23% with revenues increasing across the markets: • CEE: 11% rise in FY revenues; 4% in Q4; FY SSS flat • Russia : 45% growth in FY results; 36% in Q4 due to booming FY SSS and increased pace of openings • Western Europe : 55% rise in FY results; 3% drop in Q4 due to negative SSS • EBITDA at PLN 366 mil, up by 46%; 15.6% EBITDA margin • Excluding one- off gain on Applebee’s sales consolidated EBITDA is up by over 19% • Adjusted for one-offs and start-up costs margins stable in all divisions • VAT adjustment impact of PLN 12 mil in 2012, PLN 5 mil in 2011 8

2012 Financials by Segments (PLN ’000) +10.6% 1 502 1 357 +54.7% 537 +44.7% 347 315 218 Sales 6 7 8 5 2 2011 2012 2011 2011 2012 2012 EBITDA CEE Russia 11.9% 13.6% Western Europe 11.2% 10.8% 21.6% 16.9% Margin and EM 9

Financial Highlights – FY 2012 Balance sheet significantly improved • Finalization of the US transaction • EBITDA impacted by PLN 68 mil in Q4 • Other one-off charges • Put option PLN 8.6 mil; impairment PLN 21.3 mil • Net profit at record high PLN 98 mil • Fortified balance sheet • net debt to EBITDA below 2; less than PLN 600 mil net debt 10

2012 Financials – Key Figures Thousand PLN Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 TTM [2] Sales 533 607 602 146 544 891 567 875 602 735 637 852 2 353 353 Sales growth [1] 19.5% 12.8% -9.5% 4.2% 13.0% 5.9% - EBITDA 80 036 77 843 70 140 70 626 83 584 141 697 366 047 EBITDA (%) 15.0% 12.9% 12.9% 12.4% 13.9% 22.2% EBIT 42 227 14 390 28 427 24 977 40 099 82 160 175 663 EBIT (%) 7.9% 2.4% 5.2% 4.4% 6.7% 12.9% 7.5% Profit for the period [3] 28 475 19 654 14 903 9 676 27 718 47 202 99 499 Profit for the period% 5.3% 3.3% 2.7% 1.7% 4.6% 7.4% 4.2% Net debt 783 252 776 623 773 057 806 177 756 299 596 654 596 654 Net debt/EBITDA 2.6 2.4 2.3 2.4 2.2 2.0 2.0 [1] The growth vs. corresponding period in the previous year ,[2] trailing 12 months, [3] Attributable to AmRest shareholders and adjusted for the Put Option valuation Seasonality of sales: The seasonality of sales and inventories of the AmRest Group is not significant which is typical for the whole restaurant industry. On Central and East European markets. restaurants have lower sales in the first half of the year which is mainly the result of a smaller number of days of sale in February and lower number of customers in the restaurants. The United States market is characterized by stronger first half versus second half sales performance. After a period of lower sales in the summer months and a slight revival related to the Christmas season, the first half of the year is a period of increased activity in connection with the use of holiday vouchers promotional coupons and a high number of holidays. 11

Outlook • Economic uncertainty with some hope • Value and innovation • La Tagliatella global development – validation of concept and an investment opportunity • Growth will prevail 12

IR contact: Maciej Mausch maciej.mausch@amrest.eu mobile +48 519 19 12 64 tel. +48 71 386 12 64 13

Backup slides

AmRest Strategy Scope Leverage our WJM culture, international capability, and superior brand portfolio to grow scalable, highly profitable restaurants globally. Our unique value proposition Through our WJM culture we will deliver delicious taste and exceptional service at affordable prices. 15

AmRest Growth Agenda Deliver 20/20+ Growth DEVELOP NEW EXPAND OUR CORE GROWTH DRIVERS La Tagliatella Russia Spain M&A CE International Performance Drivers Achieve full market penetration Launch La Tagliatella globally Extend reach in dayparts & formats Build factory and support infrastrcuture Establish BK and Starbucks Develop franchise network Leverage central kitchen concept Acquire KFC globally Reduce build cost Optimize and expand portfolio with strategic brands & markets Raise margins

Brand Portfolio #1 in Chicken 16,000 restaurants in over 100 countries #1 and the fastest growing QSR brand in the Emerging Markets Over 700 restaurants added in 2010 #1 CDR in the World Over 13,000 restaurants in over 100 countries #1 Coffee in the World 17 000 stores in over 50 countries #2 in #1 QSR category in the World Burgers. Over 12,000 restaurants in 73 countries Unique proven restaurant concept , unmatched business model, over 150 restaurants in 6 countries. Established, highly profitable, western concepts present in major Chinese cities. STUBB’S Bar -B-Q is an institution in Texas, the authentic cowboy cooking, western concept present in Shanghai 17

Long Runway For Growth Population Nominal GDP # of KFC (m) per Capita ($) Stores KFCs per 1M people Australia 23 65,908 610 27,1 Canada 34 50,596 700 20,4 US 312 48,409 4,750 15,2 12,0 UK 63 38,739 752 15,8 Total DM Benchmarks 431 48,091 6,812 Long-term Poland 38 13,450 165 4,0 potential for Czech 11 20,416 61 5,3 doubling the Hungary 10 13,986 25 2,1 Total CEE 59 14,792 251 3,9 current number of KFCs in CEE and Russia 143 12,991 165 1,2 Bulgaria 7 7,284 16 2,2 REM markets Serbia 7 6,086 4 0,6 – Slovenia 2 24,183 0,0 0,2 Croatia 4 14,197 3 1,1 Total REM 164 12,601 188 Spain: Potential to reach 200 stores International: Early stage; significant growth opportunity still being evaluated Early Stage; significant growth opportunities still being evaluated Note: Number of KFC restaurants shown for REM is total country. AmRest operates 55 of these. Store count as of Q1 2012; macro data from EIU 2011. 18

CEE and REM Snapshot [1] Macro Statistics LTM AmRest Sales Market Population GDP / capita ($) PLN y/y growth SSS Growth Overview Poland 38 13,450 997,608 18.9% Czech 11 20,416 337,593 11.5% Hungary 10 13,986 91,180 34.2% Total CEE 59 14,792 1,426,381 17.9% ~ +3-5 % REM 164 12,601 266,357 44.4% ~ +20% EOP REM CEE +13 Restaurants +39 +56 +7 78 399 78 397 +25 +1 2 1 358 34 35 10 10 65 32 54 302 53 58 3 57 277 24 39 2 3 11 19 60 59 11 24 60 14 13 59 63 66 67 51 250 251 44 227 41 195 182 2009 2010 2011 2012 19-Mar-12 2009 2010 2011 2012 19-Mar-13 Poland Market 304 Split 27 33 110 165 [1] As of March 2013 19 Note: Costa Coffee includes Coffee Heaven Note: Macro data from EIU 2011.

Spain / Tagliatella Snapshot Spain +16 +20 +15 136 32 32 120 30 31 100 26 85 91 89 85 73 65 48 47 35 27 20 2009 2010 2011 2012 2013-19-03 2009 2010 2011 2012 2013-03-19 Equity Franchise International Significant international opportunity... Currently 1 equity and 4 franchise stores in France 1 equity store in India, 2 equity stores in the US and China, 3 in Germany 20

Guidance next 3 years Sales growth • Organic growth 20% CAGR • Potential M&A activity EBITDA • 15% margin CAPEX • Average capex per store below PLN 3 million • 80 restaurants p.a + PLN 50 million maintenance capex NET Debt • Bank covenants at 3.5x EBITDA • Target of 2.5-3.0x EBITDA 21 3/19/2013